Taicang Municipal Government signs an agreement with Shenzhen-based Leaguer Group to construct a tech valley in the city. [Photo/WeChat account: taicangdaily]

Taicang, a county-level city in Suzhou, East China's Jiangsu province, is expected to construct a tech valley, according to the recent signing ceremony.

With an investment of roughly 4 billion yuan ($596 million), the tech valley will be built by Shenzhen-based Leaguer Group and focus on new energy vehicle, internet of vehicle, 3D printing and other industries.

Founded in 1999, Leaguer Group is one of the earliest service organizations in China for scientific and technological innovation, involving businesses of technological research and development, investment, tech finance, creative education and international cooperation.

In recent years, Taicang has exerted its position advantages along the Yangtze River and its closeness to Shanghai to improve its innovative capability and have introduced research institutes to serve local development, including the Yangtze River Delta Research Institute of the Northwestern Polytechnical University.

Taicang is home to many research institutes, including the Yangtze River Delta Research Institute of the Northwestern Polytechnical University. [Photo/WeChat account: taicangdaily]